PaperLess was born in 1997 in Oslo with the vision of improving the efficiency of accounting systems by using automatic invoice recognition, electronic document flow and archiving. With an expanding client base of 1700 installations across Europe the PaperLess solution integrates seamlessly with both Sage 50 and Sage 200 Business Suite and manages the whole routine from scanning or adding electronic documents to processing them in the accounting systems.
The new software module strengthens the position of PaperLess as an official Sage Developer even further, giving Sage Users access to Full Email Processing Automation.
Full Automation of Emailed Purchase Invoices… From Email direct to Sage, including automatic matching and closing of purchase orders.
As a Sage Developer, PaperLess Europe will be part of the Sage Summit being held at ExCeL London - 5th and 6th April - where PaperLess will be making the official release of the brand new PaperLess Company Inbox to all Sage clients and Business Partners in UK and Ireland. This exclusive PaperLess’ development represents the state of the art technology for Invoice Processing Automation, with emailed invoices processed and posted to Sage with closing of corresponding purchase orders in a fully automatic process, with no need for any Human Intervention on Invoice Processing Routines.
PaperLess Company Inbox - Full Automation of Emailed Purchase Invoices
From Email direct to Sage, including automatic matching and closing of purchase orders.
What is PaperLess Company Inbox?
Imagine having a software that allows you to fully automate your document management process from the moment suppliers send you invoices by email until they are posted into Sage. That is PaperLess Company Inbox, a powerful solution that will change the way documents are processed by setting automation rules that are applied as soon as documents are received in your Company Inbox email.
You may be shaking your head thinking that there is no way that your business or office could go paperless. I know, we have all grown up to depend on paper, but the truth is that it is 2017 and now everyone is starting to depend on technology. It’s time to move on. Creating a Paperless Office is easy and affordable, not to mention a lot more efficient.
Efficient invoice processing saves organisations time and money while reducing manual data entry. PaperLess Automatic Invoice Recognition uses two layers of OCR (Optical Character Recognition) technology to extract the relevant data from your invoices into PaperLess, which will then be sent to other colleagues for approval within the same workspace.
Businesses have been relying heavily on manual invoice processing. Dealing with paper invoices can be time consuming and can cause many human errors with manual data entry. Some companies are still using the traditional methodology Scan to Archive, which means they only digitise invoices for archiving purpose. Unfortunately, countless manual errors happen because of the old fashion way of processing paper invoices in an organisation. The latest methodology Capture>Process>Archivehas become the most efficient way for invoice processing. PaperLess captures your invoice data by digitising paper invoices at an early stage of the workflow process.
Every business deals with invoices, so efficient invoice processing is crucial for running a profitable business. After several months, invoices from previous months may still be pending and without approval. Entering large amount of data from the invoices into your computer can be so tedious that manual mistakes are unavoidable.
For companies that receive many invoices from the same supplier on a regular basis, PaperLess efficient invoice processing creates customised invoice template for a particular supplier. Next time you run automatic invoice recognitionon the same supplier, there is no need to edit the accounting lines over and over again.
PaperLess makes invoice processing simple and smart. After invoices have been digitised and edited in PaperLess, businesses can post batches of invoices directly into their existing accounting applications. PaperLess integrates seamlessly with Sage 50 Accounts, Sage 200 Business Suite, Sage 200 Extra Online and many other popular accounting applications, so the synchronisation of invoice recognition for Sage happens instantly in the background.
Lack of visibility into invoices and documents is cited in 45% of cases as the leading driver for change by companies looking at reducing the inefficiencies in their accounts payable departments, according to research made by the Aberdeen Group published in their report; “AP Invoice Management in a Networked Economy.”
The best in class companies in the Aberdeen report found that their costs were just 20% of the laggard companies for invoice processing and that it took them just 25% of the time. These companies are renowned for investing in technology that enabled the automation of invoice receipt and workflow processes, integrating this technology into their ERP systems.
For Sage 50 Accounts, Sage 200 Business Suite and Sage 200 Extra Online, PaperLess has enabled best in class organizations to put an end to inefficiencies by automating processes from the moment documents are received. Taking these actions ensured that these companies had the capability to manage a centralised invoice management process, match purchase invoices with purchase orders, receipts and contract documentation.
The increasing importance of document management within the UK market is clearly visible when we have one of the main players in the Norwegian market - PaperLess Europe – fully integrating its software with Sage 50 Accounts, Sage 200 Business Suite and Sage 200 Extra Online. Torben Halvorsen, responsible for PaperLess in the UK market, considers that “accounting professionals across the UK are now starting to realize the importance that process automation plays in companies’ success, something that throughout Scandinavia, particularly in Norway, is already common practice and that here, in the UK, is still yet to be fully embraced.”
The Aberdeen report considers that the two main technologies adopted by best in class organisations are electronic approval workflow and image repository for invoice archival, which Torben Halvorsen considers to be in line with what his experience tells him. However, Torben adds that Automatic Invoice Recognition is the basis of the entire automation process and so must be considered as the key feature over which all others operate.
For any company wanting to eliminate inefficiency in accounts payable processing, getting the right software is vital. Torben considers that the danger lies here, having customers choosing software that is not fully integrated with their accounting system which, instead of making processes simpler and faster, will in fact do the opposite.
Torben believes that “if customers choose the right software the cost savings and increase in productivity levels are immediate,” adding that “with more than 1700 installations across Europe PaperLess’ client retention rate is over 90%, which I feel clearly demonstrates the satisfaction levels that we are able to achieve.”